Analyst Update: Tesla Motors Inc, Anthera Pharmaceuticals Inc, and Biogen Inc

Analysts revised their ratings and price targets on Tesla Motors Inc (TSLA), Anthera Pharmaceuticals Inc (ANTH), and Biogen Inc (BIIB)

Dec 29, 2016 at 9:29 AM
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Analysts are weighing in on electric car maker Tesla Motors Inc (NASDAQ:TSLA), as well as biotech stocks Anthera Pharmaceuticals Inc (NASDAQ:ANTH) and Biogen Inc (NASDAQ:BIIB). Here's a quick roundup of today's brokerage notes on TSLA, ANTH, and BIIB.

  • TSLA is up 0.1% ahead of the open, after an analyst at research firm KGI waxed optimistic over the company's efforts to ramp up production on its upcoming Model 3 sedan. Specifically, the analyst cited Tesla Motors Inc's acquisition of two system integrators for its supply chain, as well as automated manufacturing specialist Grohmann Engineering. TSLA stock has been fighting its way higher throughout December after a months-long slump on the charts, but may be running out of gas at the round $220 level, which corresponds with the 80-week moving average -- a trendline that kept the shares in check late last year. Traders are broadly betting on the stock resuming its trend to the downside. At present, 30% of the automaker's total float is wrapped up in short interest, representing nearly nine days' worth of trading, at the equity's typical pace. At $219.74, TSLA has given up 8.4% of its value in 2016.

  • After plummeting to a record low on Wednesday following bad news for its cystic fibrosis drug, ANTH is on the receiving end of some bearish brokerage notes today. Echoing this downbeat recommendation, Citigroup and Jefferies downgraded the stock to the equivalent of a "hold" rating from a "buy," while the latter also slashed its price target to $1 from $5. H.C. Wainwright, meanwhile, lowered its target price on Anthera Pharmaceuticals Inc to $3 from $10. Down 1.6% pre-market, the stock has been on a trend lower since mid-2015, and has now lost 84% of its value year-to-date at $0.74. Options traders have been unusually pessimistic toward ANTH in recent months, as well. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock's 50-day put/call volume ratio of 0.44 sits just 6 percentage points from an annual high.

  • BIIB is down 0.6% ahead of the bell, despite a price-target hike to $370 from $368 at Leerink, and to $386 from $375 at Raymond James. Biogen Inc popped earlier this week after its spinal muscular atrophy treatment received approval from the U.S. Food and Drug Administration (FDA). At $289.25, however, the equity is still off 5.6% on a year-to-date basis. Traders and analysts are largely in BIIB's bullish corner all the same. Short interest on the stock fell by more than 24% during the two most recent reporting periods, to account for less than 1% of BIIB's available float. What’s more, 12 out of 16 brokerage firms rate the security a "buy" or better, without a single "sell" rating on the books.
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